Should I let the preapproval run out and seek another lender that also offers rehab loan.

A lot of people on here will tell you to just send notice because "you have to run it like a business" but to me that isn't good business.

@Scott Stover - Historically Bay Area housing values only go up in the long run.

Keep and trying until someone gives you a shot and when that happens, take it and run with it!

just doing a quick run.

I understand that finding good deals is essential to the flipping business model, but I think there are enough properties even on the MLS that are rehab candidates and priced appropriately that will yield a positive return.Base hits win ball games and I think it is important to not focus all of your attention on finding that home run deal.

I got into the business through my husband, who runs a small construction company that specializes in flips and rehab homes.

Also run this by your veteran investor friends as well.

They're going to cost a pretty good chunk of change, but it'll probably be less than the rent you lose in the long run.  

This helps for when you move out (assuming you’re not living here forever) and helps you run it as a business.